De Krupe Law Firm Toronto Blog

03 January

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So What is a Trust and How Does it Work?

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In its most fundamental sense, what is trust and when we talk about estate planning? It's not just a sentiment; it's a legal structure – a trust. This entity stands as a testament to the complex yet vital arrangement in managing and protecting assets. A trust serves as a cornerstone in estate planning, offering a strategic approach to safeguard assets, minimize estate taxes, and ensure a seamless transfer of wealth. Its...

26 December

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When Does Child Support End In Ontario

Posted by Daniel Simard

in Family Law

In Ontario the age of majority is 18 years old, as defined by the Age of Majority and Accountability Act. But does child support in Ontario really end at that age? In reality it can extend under various special circumstances. If the child is still in high school and depends on the parent, support obligations can be valid until they graduate or turn 19. In case the child has special needs or...

19 December

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The Afterlife of Your Bank Account

Posted by Daniel Simard

in Blog

When the moment comes to leave this earth, have you asked yourself what happens to bank accounts after death canada? Or do you think that unfinished business will allow you to stay on Earth for a while? The overwhelming majority of Canadians are ill-prepared and leave their loved ones with no sense of what to do with their property. All that is necessary to avoid that is to make a...

12 December

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How to Avoid Probate

Posted by Daniel Simard

in Blog

Understanding all the details of the process is your step number one when you want to learn how to avoid probate. Especially when you’re debating on how do you avoid probate on principal residence. However, no matter the circumstances, there are clear measures you can take. Probate and Non-Probate Assets At the heart of probate lies the differentiation of assets. While some assets necessitate probate, a notable array does not. These non-probate...

05 December

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The Misconceptions and Realities of Probate

Posted by Daniel Simard

in Blog

A common misinterpretation involves understanding exactly what assets are not subject to probate in toronto?. Often, advice on this matter is based on personal anecdotes, which, while well-intentioned, may not universally apply due to the intricate nature of probate laws. Often, the perception of probate is shrouded in misconceptions. Many believe that upon passing, all assets inevitably undergo probate before reaching beneficiaries. However, this is a simplification of a more nuanced...

22 November

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Successor Annuitant and Beneficiary Choices in Estate Planning

Posted by Daniel Simard

in Blog

With respect to safeguarding the financial future of your loved ones, understanding the distinction between a successor annuitant and a beneficiary is essential. This knowledge is particularly crucial in estate planning. The decision between a successor annuitant vs beneficiary can have significant implications for the distribution of your assets. A successor annuitant often steps into the shoes of the original annuity holder, continuing to receive payments with minimal disruption. In contrast,...

15 November

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Tips for Purchasing Houses at the Stage of Preparation for Construction

Posted by Daniel Simard

in Blog

Buying pre-construction homes in their initial phase is a significant act of faith and a substantial commitment. The inability to physically inspect the finished unit means trusting your builder to fulfill what you've agreed to buy for these pre-construction properties. Understandably, a transaction of this scale involves extensive paperwork. However, comprehending these documents empowers you to be a more knowledgeable buyer and safeguard your investment, even when your new habitation is...

08 November

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Refresh Your Real Estate

Posted by Daniel Simard

in Blog, Real Estate

Such items are often considered personal possessions rather than real property. Also plays a significant role in property negotiations and valuations. This applies to movable property that is not permanently attached to the land or buildings. A property that is easy to rent without changing its condition or value is what includes movable property in real estate. This is what chattel in real estate encompasses. This includes items that are not...

01 November

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Last-Minute Withdrawals in Ontario Real Estate Deals

Posted by Daniel Simard

in Blog, Real Estate

Real estate transactions in Ontario, like elsewhere, are significant life events. A pressing question for many in this process is when is it too late to back out of buying a house ontario. It is a dilemma that highlights the time-sensitive nature of such transactions. It's an essential consideration, as knowing the exact point beyond which a buyer cannot withdraw without consequences is crucial. This knowledge empowers buyers to navigate the...

25 October

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Demystifying the Real Estate Closing Process

Posted by Daniel Simard

in Real Estate

Wielding your own home is often considered a milestone achievement. Yet, the journey to homeownership, especially the closing phase, can seem complex and intimidating. The real estate closing process involves a series of steps, each vital in its own right. To navigate these steps successfully, it's crucial to have a clear understanding and to be well-prepared. Partnering with experienced professionals, such as real estate agents and lawyers in Toronto, can significantly ease...

Blog

So What is a Trust and How Does it Work?

When Does Child Support End In Ontario

The Afterlife of Your Bank Account

How to Avoid Probate

The Misconceptions and Realities of Probate

Successor Annuitant and Beneficiary Choices in Estate Planning

Tips for Purchasing Houses at the Stage of Preparation for Construction

Refresh Your Real Estate

Last-Minute Withdrawals in Ontario Real Estate Deals

Demystifying the Real Estate Closing Process

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